hastings property syndication - erskine & owen...hastings property syndication +7% net yield...
TRANSCRIPT
ERSKINE + OWEN
Hastings Property Syndication
+ 7% net yield+ Two adjacent commercial properties in
Central Hastings+ Total land size of 1,693m2 with a
rentable floor area of 432m2+ Fully tenanted and including 30+
Carparks
Request the Information Memorandum HERE to find out how it works.
Or contact
Toby Hunn
P: +64 27 5748 477
Alistair Bone
P: +64 27 899 7751
ERSKINE + OWEN
This Property Offers Investors Significant Potential
301 Railway Road The 301 Railway Road main building comprises an early two storey residence estimated to have been constructed around 1920 and which in more recent times has been altered to provide office accommodation on both levels. In addition there is a separate workshop/store building which includes an amenities area. The main tenant is education provider, Learning Innovations, who have a 3 year lease over the principal building. The 3 car parks on the property are also leased. The property is zoned Central Commercial which provides significant flexibility for a wide range of retail, office and residential activities to establish and operate in the centre of Hastings. In accordance with Section 9.9 of the plan commercial activities and residential activities except at ground floor level on sites with designated retail frontage shall be permitted.
303 Railway RoadOn the 303 Railway Road property is a purpose built small taxi depot building, originally constructed in 1973. The 100 m2 building is partitioned to include office space, staff room and related amenities. Attached to the side of the building is a canopy structure and a concrete yard area surrounds the building, with a metaled yard at the back of the property. The property is on 1,095m2 of land and some 300 metres from Hastings CBD. The property is currently occupied by Hastings Taxis, who have a 3 year lease over the building and front part of the property. The rear of the property, comprising 25 carparks, is leased to NZ Police for 2 years. This property is also zoned Central Commercial.